The Best Business Plan

The Best Business Plan-35
An executive summary is often only a half-page or less, containing no detailed market research or financial numbers.The goal of the executive summary is to get the reader interested in reviewing the business plan.Conduct a break-even analysis that estimates when your company will likely turn a profit.

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Even if you’re not looking for funding or help, the more questions you can answer in your business plan, the more valuable it is.

An excellent business plan is organized in a logical, thoughtful way that makes it easy to move from your assumptions to your justifications.

The more organized your document, the easier it is to follow and to review later when you need specific information.

Include a detailed contents page, an executive summary that tells what’s coming, sections on your product or service, the marketplace and financial numbers, a summary and supporting documents.

This section includes a description of your product or service, its benefits, how it differs from the competition and what brand, or image, you will create for it in the marketplace.

Don’t get into your manufacturing costs or profits at this point -- your goal here is simply to prove that there is a need for your product and its benefit in the marketplace.The most useful business plans provide detailed financial information, including startup expenses, manufacturing and overhead costs, sales expenses, break-even point and profit projections.Include more than one budget in your business plan to show readers you’ve done your homework: a budget outlining your startup costs, an annual master budget, budgets that break out overhead and manufacturing costs and a cash flow statement.Write up details about all loans and when they will be paid off.Moreover, summarize details about capital equipment that will be used and how it will be depreciated.Include a discussion of the distribution channels you’ll use and why.Once you’ve completed this information, present your advertising, PR and promotions strategies and tactics, referring to your market research to show why you are recommending these.He has worked in the corporate and nonprofit arenas as a C-Suite executive, serving on several nonprofit boards.He is an internationally traveled sport science writer and lecturer. "What Factors Make the Difference Between a Good Business Plan & an Excellent One? State the industry in which you will be operating in your business plan.For example, if you are in the RV (recreational vehicle) industry, define which types of vehicles you offer and their prices.

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